This is a decrease from the $1.7 million they reported in 2019, according to records released Tuesday.
According to the couple’s federal tax returns, they paid 32% in taxes.
Newsom made about $201,000 in 2020 as governor, but the majority of his income came from restaurant and winery businesses that he placed in a blind trust before he became governor. The trust made it unclear what businesses lost or gained money in that year’s documents.
Jennifer Siebel Newsom is his wife and a documentary filmmaker.
According to the records, the couple made over $1,000,000 from partnerships and business entities. They also had almost $130,000 in capital gains and more than $440,000 in compensation.
They deducted approximately $10,000 in business expenses, $285,000 rent and royalty expenses, and almost $50,000 in corporate or partnership losses.
Newsom also received a $20,000 advance for a children’s book about dyslexia. This is a condition Newsom has had since childhood and can make it more difficult to read. The illustrator fee was paid, and the rest of the advance and any profits went to charity.
They received nearly $30,000 in charitable donations.
Newsom signed the 2019 state law that required state election officials to publish tax returns for candidates for governor.
As the governor prepares for a reelection campaign, he releases information about the Secretary of State’s website. He faces little-known opposition. Newsom defeated the recall election that would have seen him removed from office last year.
June 7th is the primary election
These figures are the Newsoms’ earnings in the first year following the pandemic that saw schools and businesses close across California.
Newsom is the owner of The PlumpJack Group which includes a variety of restaurants and wineries.